Sichuan Trust Misses Payments on Financial Portfolios as Investors Protest Outside

Sichuan Trust Misses Payments on Financial Portfolios as Investors Protest Outside
A 100 RMB note is seen in an Industrial and Commercial Bank of China Ltd (ICBC) branch at the China (Shanghai) Pilot Free Trade zone during a media trip on September 24, 2014. JOHANNES EISELE/AFP via Getty Images
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The Sichuan Trust company missed payments on the principal and interest that matured in June on TOT (trust of trust) investments worth at least $3.56 billion. Investors have gathered outside the company headquarters in Chengdu, Sichuan Province, to demand their money back.

While the company claimed it was affected by the economic downturn caused by the pandemic,  some of the company’s investors suspect the firm has committed wrongdoing that led to its failure to secure the funds.